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he told cnbc that instead of continuing tax breaks for the wealthy, the obama administration is willing to go over this cliff which means they're willing to let your taxes go up and unemployment checks go away massive spending cuts happen if the pentagon instead of continuing the tax breaks for the wealthy. now there's been very little progress here on chiapitol hill which is why so many have gone home. we know that president obama and john boehner spoke by phone. republican sources telling us they had a conversation yesterday. we don't have a readout on what that was about. we don't know that if any meetings have been scheduled. but any small sign of progress is welcome here on capitol hill. now with so many lawmakers headed home and likely to face the ire of their constituents, we saw one protester in baltimore yesterday over social security. there are a few left. today there's a joint economic committee hearing. they're going to hear from a top economist not only about the jobs numbers coming out tomorrow but also about what can be done to avoid this issue at the end of the year. >>
he told cnbc that instead of continuing tax breaks for the wealthy, the obama administration is willing to go over this cliff which means they're willing to let your taxes go up and unemployment checks go away massive spending cuts happen if the pentagon instead of continuing the tax breaks for the wealthy. now there's been very little progress here on chiapitol hill which is why so many have gone home. we know that president obama and john boehner spoke by phone. republican sources telling us...
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president obama wants to plug that trillion dollars hole by raising taxes on household incomes, as we all know that have incomes over $250,000. the top 2%. that would bring in $802 million, $82 billion. that's about 8% of that deficit. so does that suggest w have a tax problem or, perhaps, a spending problem? think about this. taxpayers making more than $250,000 representing the top 2% paid more than 46% of all texas. that would seem like a pretty fair deal to most of us, but the president says it is not fair. we don't know what that number is. how much should it be? and contrary to what the president would have you believe as he campaigns untack sites all around the country and against the wealthy, he's doing a lot of that. the bush tax rates are not the root of our problems. in fact, individual tax payments rose, get this, $2,303,000,000,000 or 26%. over the past two years. under those very low unshared bush tax rates with the difficult slope but a growing economy we still added $233 billion to the federal revenue. here is what happens if obama drives us off the cliff. that 82 billi
president obama wants to plug that trillion dollars hole by raising taxes on household incomes, as we all know that have incomes over $250,000. the top 2%. that would bring in $802 million, $82 billion. that's about 8% of that deficit. so does that suggest w have a tax problem or, perhaps, a spending problem? think about this. taxpayers making more than $250,000 representing the top 2% paid more than 46% of all texas. that would seem like a pretty fair deal to most of us, but the president says...
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Nov 30, 2012
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another day, another republican jumping ship from grover norquist and his anti-tax pledge. this time it's new york congressman chris gibson who said that because of redistricting, he figures the pledge only applies to the area he was serving before. >>> and this was the photo op of the day. of course, vice president joe biden, he was shopping at the new costco in washington, d.c. he munched on some cookie samples, bought children's books, a tv set and apple pie. >>> remember this guy? the one who vowed to keep his romney/ryan campaign tattoo dispute the election results? reality has apparently caught up with him, and it's coming off soon. and that's your dish of "scrambled politics." >>> another day of fiscal cliff drama. stocks reversed early gains and fell shortly after house speaker john boehner dashed hopes that lawmakers were getting closer to agreeing on a year-end budget deal. but all three major markets did bounce back by the afternoon. >>> economic data was positive thursday, but we'll see what impact there is today from grim news out of europe. eurozone unemployme
another day, another republican jumping ship from grover norquist and his anti-tax pledge. this time it's new york congressman chris gibson who said that because of redistricting, he figures the pledge only applies to the area he was serving before. >>> and this was the photo op of the day. of course, vice president joe biden, he was shopping at the new costco in washington, d.c. he munched on some cookie samples, bought children's books, a tv set and apple pie. >>> remember...
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. >> including president obama actually making his appeal to business leaders on his tax plan. he's now reaching out following a very tough election campaign. >> and overseas, protests get violent in egypt where the once stable nation appears to be on the verge of crisis. first, let's get to the news live at 5:30 here at 30 rock in new york city. we begin with 25 days to go until the year end fiscal cliff deadline for the first time in days president obama and speaker boehner spoke on the phone yesterday. both men agreeing not to publicly characterize how the conversation went. but the stalemate in negotiations entered bold new territory yesterday with treasury secretary tim geithner suggesting the white house is ready to go off the cliff if republicans refuse to raise taxes on the top 2%. >> if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> absolutely. again, there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest members. only 2%. the size of the problem in some sense is so
. >> including president obama actually making his appeal to business leaders on his tax plan. he's now reaching out following a very tough election campaign. >> and overseas, protests get violent in egypt where the once stable nation appears to be on the verge of crisis. first, let's get to the news live at 5:30 here at 30 rock in new york city. we begin with 25 days to go until the year end fiscal cliff deadline for the first time in days president obama and speaker boehner spoke...
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lou: now time for your comments, bob in houston saying, i hope that barack obama gets all of the taxes he wants, i will be the first to say i told you so when consequences happen, people le t
lou: now time for your comments, bob in houston saying, i hope that barack obama gets all of the taxes he wants, i will be the first to say i told you so when consequences happen, people le t
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Dec 4, 2012
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on that, and president obama wants to change that to you should get taxed on that income as though it's your actual, like, salary. and if that, if he gets his way on that, then that income goes up to whatever your salary tax rate is, plus if you're over 200 or 250, the 3.8%, plus the .9% as well? >> >> it would be just the 3.8. the% 9 is for wage income above that 200 or 250. but it would be on top of your ordinary income tax rate, so we could be looking at investment income being taxed more harshly than regular income. megyn: well, why should we care about that? for those of us who don't have that many investments, why do we care? >> well, we should care because the tax on capital has a major impact on the economy overall, on productivity growth and, therefore, on standards of living. the way that you have a more prosperous economy, is you need to have incentive to encourage capital formation, to encourage investment, to increase worker productivity -- megyn: what are people going to do with their money? so if i had otherwise invested in stocks and gotten dividends, but now -- because
on that, and president obama wants to change that to you should get taxed on that income as though it's your actual, like, salary. and if that, if he gets his way on that, then that income goes up to whatever your salary tax rate is, plus if you're over 200 or 250, the 3.8%, plus the .9% as well? >> >> it would be just the 3.8. the% 9 is for wage income above that 200 or 250. but it would be on top of your ordinary income tax rate, so we could be looking at investment income being...
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00, president obama on the phone with the president of egypt, pressing him about protests that have now turned deadly. here's the scene in cairo. at least six people dead, hundreds more injured. the trouble all started when morrisey granted himself broad new powers. hat grown worse after he put in place a draft constitution that has divided the nation. morrisey has agreed to open a dialogue with the opposition leaders. >>> police are looking for a man who sex w5e8 assaulted a motel clerk at work. it happened last night in woodbridge. police say it seems the man telephoned that clerk posing as a guest locked out of a room. the clirk goes that way to help and in the stair well the masked man pulled a knife on her, forced her into an empty room and assaulted her. > with murdering a 14- year-old in lewisdale. reyes was killed early wednesday. reyes and two others were walking along sheridan when somebody drove biand opened fire. police believe the shooting may have been gang related. >>> at 11, paying for the post on-line. will we soon have to do that? the washington post sometime next year
00, president obama on the phone with the president of egypt, pressing him about protests that have now turned deadly. here's the scene in cairo. at least six people dead, hundreds more injured. the trouble all started when morrisey granted himself broad new powers. hat grown worse after he put in place a draft constitution that has divided the nation. morrisey has agreed to open a dialogue with the opposition leaders. >>> police are looking for a man who sex w5e8 assaulted a motel...
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. >> president obama was making case in virginia to and the the your tax cuts for wealthiest americans. with a falls church afternoon. we'll have the latest capitol hill over could happen should we go over the fiscal cliff. have a new report that moving into the s moving out who i and why. see you in a few minutes. >> tonight, we will find out happened to the president's scandal. cliffhanger left is wondering shot -- as the vice president takes control. e must all join hands and pray for our president. as you about your heads, rest assured i am in the white house charge of the situation. >> see what happens on the all "scandal." lookeds take another it to see what is happening with the national christmas tree lighting. neil patrick harris is the host this year. waiting on the of the first family. they should be there within the next few minutes. come out and flipped switch. >> always a beautiful sight. >> this will be interesting they change to the for the first time. we will see what that looks like. >> let's check in on however is feeling. >> getting into the holiday with the cold we
. >> president obama was making case in virginia to and the the your tax cuts for wealthiest americans. with a falls church afternoon. we'll have the latest capitol hill over could happen should we go over the fiscal cliff. have a new report that moving into the s moving out who i and why. see you in a few minutes. >> tonight, we will find out happened to the president's scandal. cliffhanger left is wondering shot -- as the vice president takes control. e must all join hands and...
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Nov 29, 2012
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obama irony, same people who claimed bush tax cuts are only for the rich now argue to keep them because they help the poor. and there is this one. my2k should really be somebody else's two k. they can government not to take their money and say take it from someone else. and then there is this one, y2k was caught by programmers failing to limit code 24 places. speed was caused by americans failing to limit obama to four years. back to you. melissa: thank you so much, thanks they want to tweet hash tag bad ideas. thank you, dennis. lori: what is going on? melissa: you haven't been shopping. lori: luxury jeweler not looking very pretty today. the trade at the nyse coming ahead. melissa: is andrew mason the right person to run it groupon? meeting on the troubled company's future. having you ship my gifts couldn't be easier. well, having a ton of locations doesn't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stress. fedex office. now is a good time to think about your options. are you lookin
obama irony, same people who claimed bush tax cuts are only for the rich now argue to keep them because they help the poor. and there is this one. my2k should really be somebody else's two k. they can government not to take their money and say take it from someone else. and then there is this one, y2k was caught by programmers failing to limit code 24 places. speed was caused by americans failing to limit obama to four years. back to you. melissa: thank you so much, thanks they want to tweet...
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if president obama is talking about taxing the wealthy. it doesn't get you there. the math doesn't add up. i doesn't get you out of the hole. but if they get that on december 22 and all he get he is has a seriouscliff on his hands. >> i want to play this. question to nancy pelosi. the minority leader in the house about spending cuts and what she is willing to do. >> the thing on the spending cuts -- the definite -- [ inaudible ] >> $1.5 trillion in cuts is a lot of money. we in washington, d.c. and we get used to big numbers but $1.5 trillion in cuts you go beyond that, you are talking hurting the growth of the infrastructure and education of our people and the pillar, the pillars of our economic strength. >> bret: that is a message, steve, we cut enough. yesterday, i should point out that senator reid meant to say $1 trillion. not one $1 billion on the sound bite we played to be fair to him. but nancy pelosi is clearly saying we're done. >> you see this in the comments that the democratic members of the house made to the public. big argue in politico, not refrench
if president obama is talking about taxing the wealthy. it doesn't get you there. the math doesn't add up. i doesn't get you out of the hole. but if they get that on december 22 and all he get he is has a seriouscliff on his hands. >> i want to play this. question to nancy pelosi. the minority leader in the house about spending cuts and what she is willing to do. >> the thing on the spending cuts -- the definite -- [ inaudible ] >> $1.5 trillion in cuts is a lot of money. we...
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in his weekly media address today, president obama again pushed his party's tax plan. of course, utah senator orrin hatch rejected in the republican response. >> both parties say we should keep middle class taxes low. the senate's already passed a bill to keep income taxes from going up on middle class families. democrats in the house are ready to do the same thing. if we can just get a few house republicans on board, i'll sign this bill as soon as congress send it my way. >> what he proposed this week was a classic bait and switch on the american people. a tax increase double the size of what he campaigned on. billions of dollars in new stimulus spending, and an unlimited, unchecked authority tow borrow from the chinese. maybe i missed it, but i don't recall him scwg for any of that during the presidential campaign. >> jarvis: parents and school boards across the country are debating whether to offer bonuses to teachers whose student do well on standardized tests. sharyl attkisson check out how the bonus is working in the first city to try the idea >> reporter: tenth
in his weekly media address today, president obama again pushed his party's tax plan. of course, utah senator orrin hatch rejected in the republican response. >> both parties say we should keep middle class taxes low. the senate's already passed a bill to keep income taxes from going up on middle class families. democrats in the house are ready to do the same thing. if we can just get a few house republicans on board, i'll sign this bill as soon as congress send it my way. >> what...
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president obama is blackmailing saying if you don't do this, if you don't raise taxes on 2%, this is what will happen. >> eric: can i take issue with that? what if we don't go off the fiscal cliff? we are about sequestration later and do the game with the tax hike and spending cuts. we have the same thing? $20 trillion in the hole in four years, 25 trillion in nine years. nothing will change. this place is bankrupt. >> greg: president obama is obsessed with the 2%. like the crazy stalker breaking in david letterman's help. he hates the rich. it is not going to end. in two years we come back and deal with this. >> eric: why don't you want to go off the fiscal cliff? >> bob: a lot of people will get hurt. i don't care if the 2% will get hurt. >> greg: you hate rich people. >> bob: i don't hate them. they're all right. they give money to philharmonic. >> greg: without rich peopl people, there would be no government. >> bob: a deal is worked out as we speak. there will be a deal and include some increase. maybe not the entire for the upper income people. there will be adjustment to socia
president obama is blackmailing saying if you don't do this, if you don't raise taxes on 2%, this is what will happen. >> eric: can i take issue with that? what if we don't go off the fiscal cliff? we are about sequestration later and do the game with the tax hike and spending cuts. we have the same thing? $20 trillion in the hole in four years, 25 trillion in nine years. nothing will change. this place is bankrupt. >> greg: president obama is obsessed with the 2%. like the crazy...
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to budge on tax rates for the wealthy. harry reid had this for the republicans. >> i sympathize sympathize with john boehner. the tea party has a firm grip on the republican party. we are not going to twist ourselves into contortions to please a vocal minority of the tea party. >> jennifer: that's fascinating a new approach for harry reid feeling sorry for john boehner. i'm not sure how john boehner feels about that. with me is karl frisch in washington and donny welcome back inside "the war room"." >> it's a party. >> jennifer: yeah, all good stuff. karl i'll start with you. how should democrats be handling this tea party revolt? should they do more to assist speaker boehner? >> we should be throwing gas on the fire. this is an emporer with no clothes. when we were pushed to fiscal cliff it was because john boehner promised something to the president and could not get members of his caucus do the right thing for the american people. >> i don't think we should be putting more gas on the karl what you're saying when your en
to budge on tax rates for the wealthy. harry reid had this for the republicans. >> i sympathize sympathize with john boehner. the tea party has a firm grip on the republican party. we are not going to twist ourselves into contortions to please a vocal minority of the tea party. >> jennifer: that's fascinating a new approach for harry reid feeling sorry for john boehner. i'm not sure how john boehner feels about that. with me is karl frisch in washington and donny welcome back inside...
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. >> which is why i'm glad that president obama had the courage to end the bush tax cuts two years ago -- oh, wait a second. i'll tell you what. you know what? >> i agree with you. >> extended them for two more years, but at least now he's got the nerve, the courage to do what democrats have been saying all along, and end the bush -- oh, wait a second. no. he's actually keeping 98% of them. huh. >> look, he's keeping it for 98% of the country. i happen to agree. you know, i'm a supporter of the simpson-bowles approach, but we are where we are right now. and i think to chuck's point, this may make it -- and to your point -- and they may get to a point where this is very uncomfortable for democrats. again, $2 trillion, both are asking for that, it with certainly get us through the year, avoid sequestration, avoid the pain that many in the business community are concerned about. if we start growing again, imagine how easy this conversation will be next year if the economy is growing at 3% to 4%. >> yes, and the spirit of jack kemp rises from the table of "morning joe." >> growth. it's alw
. >> which is why i'm glad that president obama had the courage to end the bush tax cuts two years ago -- oh, wait a second. i'll tell you what. you know what? >> i agree with you. >> extended them for two more years, but at least now he's got the nerve, the courage to do what democrats have been saying all along, and end the bush -- oh, wait a second. no. he's actually keeping 98% of them. huh. >> look, he's keeping it for 98% of the country. i happen to agree. you...
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>> how will he pass the massive obama tax cut without the house? >> i'm assuming they'd want to have a big tax cut, right? >> no. >> they would sit on their hands post-january 1st and say nothing? >> do you think republicans are so stupid in the house they don't see that move coming and say, you know what? you go ahead and you try to pass your tax cut through harry reid's senate, and we'll pass our tax cut through the house. and good luck. >> so they would just rather have everyone's tax -- i'm shock that that would be the end result. >> harry reid would rather have it his way or nobody's way? >> no, i'm saying you can negotiate in these flex three weeks about this package of tax cuts. >> i don't mean this to be directed towards you -- >> but here it comes. >> -- no, i'm just saying generally, there is such an arrogance in the media since the president won. they think that these house republicans are -- >> have nothing to say. >> -- have absolutely nothing to say. >> i do agree with that. or nothing of value. >> they act as if they were elected by
>> how will he pass the massive obama tax cut without the house? >> i'm assuming they'd want to have a big tax cut, right? >> no. >> they would sit on their hands post-january 1st and say nothing? >> do you think republicans are so stupid in the house they don't see that move coming and say, you know what? you go ahead and you try to pass your tax cut through harry reid's senate, and we'll pass our tax cut through the house. and good luck. >> so they would...
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. >> that is president obama and the democrats to save you for being higher taxes. >> this fiscal cliff thing, the problem with the republicans larry, is that they have been boxed in by the democrats into a difficult position where the polls confirm that the public in america believe that the reason that president obama is going to win the debate that if he goes over, that they are going to save the backsides of the wealthy 2% of americans. i probably shouldn't but i do. >> with which i agree but i think the risk here for the gop is that they become the party of rich people. and i think you saw that in the election. i don't think that is their intent. i think their intent is quite sound. >> they are becoming the party of rich white older men. you can't think of any other section of the community right now thinking the republican party is for me. >> i think that is why the politics of this make it possible to go over the cliff. i think the democrats see if we go over the cliff the republicans get blamed. meanwhile. i think the republicans worry about bei ining blamed by a pri contender w
. >> that is president obama and the democrats to save you for being higher taxes. >> this fiscal cliff thing, the problem with the republicans larry, is that they have been boxed in by the democrats into a difficult position where the polls confirm that the public in america believe that the reason that president obama is going to win the debate that if he goes over, that they are going to save the backsides of the wealthy 2% of americans. i probably shouldn't but i do. >>...
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medicare and tax refunds. he says without a resolution to the debt ceiling, there is no deal. >> just to be clear, i'm not going to sign any package that somehow prevents the top rate from going up for folks at the top 2%. >> what the president is really interested in as we learned just yesterday is getting as much taxpayer money as he can first by raising taxes on small business that he believes are making too much money and then on everybody else, not so he can lower the debt or the deficit but so he can spend to his heart's content. >> reporter: there you have it. essentially the both sides of this issue, and they seem at odds at this point, even though there seemed to be a compromise and some hopeful talk about two weeks ago. so things have certainly changed here in the past couple of weeks here on capitol hill. there will not be any debate on this issue today or over the weekend because the house of representatives have gone home for a long weekend. so the debate continues on monday. andrea, mike, back to
medicare and tax refunds. he says without a resolution to the debt ceiling, there is no deal. >> just to be clear, i'm not going to sign any package that somehow prevents the top rate from going up for folks at the top 2%. >> what the president is really interested in as we learned just yesterday is getting as much taxpayer money as he can first by raising taxes on small business that he believes are making too much money and then on everybody else, not so he can lower the debt or...
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through with his mandate to raise taxes on higher earners. this shows the president knows --. >>neil: not raise them as much? >>guest: he said he is showing "flexibility." >>neil: would you, of a conservative mind, be okay with taxes for the upper income --. >>guest: no. like norquist and senator demint have said no tax hikes, period, we node full tax reform. the rates should come down thought go up for one group over another. the group who in this country most small business owners as you know file as individuals and they are making $250,000 or more and they are employing a lot of people in the community. >>neil: the media will say, well, you need to sacrifice --. >>guest: but what about small business owners like my dad who has a dental practice, he said if the president follows through and raises taxes on me i will have to labor people off my didn'tal practice. he lives in richmond, virginia, a small pice owner and he is created jobs. >>neil: he will not cut back on the anesthesia? thank you very much. >> now is the time for the republican
through with his mandate to raise taxes on higher earners. this shows the president knows --. >>neil: not raise them as much? >>guest: he said he is showing "flexibility." >>neil: would you, of a conservative mind, be okay with taxes for the upper income --. >>guest: no. like norquist and senator demint have said no tax hikes, period, we node full tax reform. the rates should come down thought go up for one group over another. the group who in this country most...
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taxes go up on the top 2% or they don't. right? it was obama versus romney. he keep come back to this that you heard bill crystal say what the hell are we doing as a party? even tom kohl said let's buy in 98% and get it out of the way and take credit for it. why is bajner refuse to go schedule a boat on that proposal. >> obtain doesn't have the votes. simple math, this is sort of the reality of washington. >> doesn't have the votes to block it? >> he doesn't have the votes to pass any kind of tax reform from his own caucus. they operate by a rule called the majority of the majority. effectively the house republicans will do whatever the majority of their caucus says is okay with. you know, they don't have that majority. >> if they deck -- okay. i am trying to understand where boehner is coming from. right? >> yeah. >> bill: because i think this is a time for sleepered. i am say that. not you. if he allowed that the democrats would vote for it. they don't need that many republicans. it seems to me that the pressure, then, on the republicans, a good number of t
taxes go up on the top 2% or they don't. right? it was obama versus romney. he keep come back to this that you heard bill crystal say what the hell are we doing as a party? even tom kohl said let's buy in 98% and get it out of the way and take credit for it. why is bajner refuse to go schedule a boat on that proposal. >> obtain doesn't have the votes. simple math, this is sort of the reality of washington. >> doesn't have the votes to block it? >> he doesn't have the votes to...
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Nov 30, 2012
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president obama on the road pushing his fiscal plan to raise taxes on the top 2% and spend $50 billion on infrastructure. dave: the opening visit not well-received by gm be leaders, the senate demand represents a step backwards because it is twice as much in tax increases as expected. peter barnes is in washington d.c. with the details and not much movement on the cutting of spending either. peter: president obama and john boehner in front of cameras to make their cases in the battle over the fiscal cliff. the speaker said he is willing to move forward with negotiations in good faith after republicans rejected the president's first formal offer yesterday as being short on spending cuts, but it doesn't sound like anyone has put the brakes on the road to the coin. >> let's not kid ourselves. i am not trying to make this more difficult. i have been very guarded. i don't want to make it harder for me or the president or members of both parties to find common ground. >> this is not some run-of-the-mill debate, not about which political party can come out on top in negotiations and all of us
president obama on the road pushing his fiscal plan to raise taxes on the top 2% and spend $50 billion on infrastructure. dave: the opening visit not well-received by gm be leaders, the senate demand represents a step backwards because it is twice as much in tax increases as expected. peter barnes is in washington d.c. with the details and not much movement on the cutting of spending either. peter: president obama and john boehner in front of cameras to make their cases in the battle over the...
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president obama has been reelected, taxes are going to go up one way or another, are they going to go up for everybody or just for the wealthy and then we can get the american economy rolling again. i think the stock market is very smart about this. it realizes that all this is much adue about nothing, taxes are going to go up. if they reach adeal and that falls apart that, could send the stock market reeling, like it did in 2008 when everybody thought congress was going to do the t.a.r.p. bailout and didn't and then they came back and did it. >> we had the business roundtable yesterday where the boeing ceo in the introduction to the president said there's not a lot of wall flowers in this room. the president knew the crowd he was meeting with and talking to and the president saying i passionately rooting for all of your successes. >> on the one hand we all know that wall street supported mitt romney because he was one of them. on the other hand, this is exactly what the president should be doing, meeting with these business leaders, mending fences. now, a lot of those business leader
president obama has been reelected, taxes are going to go up one way or another, are they going to go up for everybody or just for the wealthy and then we can get the american economy rolling again. i think the stock market is very smart about this. it realizes that all this is much adue about nothing, taxes are going to go up. if they reach adeal and that falls apart that, could send the stock market reeling, like it did in 2008 when everybody thought congress was going to do the t.a.r.p....
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Nov 30, 2012
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i didn't raise your taxes. oh, by the way, my base, you wealthy folks over here, look what obama did to you. he raised your taxes. that's only going to infuriate the wealthy even more. the fact here is is that he has given them something they can campaign on plus they can turn around and say, these are his cuts to medicare, not ours. i don't now why they don't take this deal for the good of the country and come back and fight another day. >> to say democrats are not serious about entitlements, $400 billion of cuts to medicare is a cut to entitlements. that's going to mean hardship for seniors. that's a real cut. now, you can pretend like the hospitals are going to swallow all of that cost cut. they're not. they're going to pass that on. that means less health care. those are real dollars. and so you can say that democrats are not serious, but $400 billion to most people, that's real money. >> well, the obama team is saying they can find these costs in inefficiencies and providers. that's where they're going to
i didn't raise your taxes. oh, by the way, my base, you wealthy folks over here, look what obama did to you. he raised your taxes. that's only going to infuriate the wealthy even more. the fact here is is that he has given them something they can campaign on plus they can turn around and say, these are his cuts to medicare, not ours. i don't now why they don't take this deal for the good of the country and come back and fight another day. >> to say democrats are not serious about...
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Dec 4, 2012
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what will they tell president obama about the spending cuts and tax increases now just 28 days away? >> we must reign in our out of control spending. >> reporter: republicans have an offer, $800 billion in new taxes, half what the president wanted. $600 billion saved in part by making americans wait until they're 67 to get medicare. plus more cuts totalling $2.2 trillion. but no tax hikes for the wealthy. >> that's just not going to happen. >> reporter: the pentagon could take the biggest hit from president obama told defense experts monday, don't worry. >> even as we make very tough fiscal choices, we're going to keep investing in these programs. >> reporter: he went online on youtube and twitter explaining why he thinks the rich should pay more. going over the fiscal cliff could cost america jobs. >> we're only expanding 2% right now. it needs to be considerably higher to bring more people off unemployment. >> reporter: for the jobless, president obama is asking congress for millions more. and more on the president's plan which will pitch to governors today largely spares social se
what will they tell president obama about the spending cuts and tax increases now just 28 days away? >> we must reign in our out of control spending. >> reporter: republicans have an offer, $800 billion in new taxes, half what the president wanted. $600 billion saved in part by making americans wait until they're 67 to get medicare. plus more cuts totalling $2.2 trillion. but no tax hikes for the wealthy. >> that's just not going to happen. >> reporter: the pentagon...
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Dec 4, 2012
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the obama plan, they did not receive the full benefit of the bush tax cuts. that is just a fact. if your income is over $500,000, you get the full rate reductions. this is a very bizarre rate structure in the amt. congress was quite cognizant of that rate structure when they enacted the 2001 act and decided not to change because it had the impact of making that tax cut look less on affordable than it actually was. host: you talk, independent caller, good morning. -- utah. caller: i have a question and for mr. buckley that i think is kind of a no-brainer. when i was in business, i am retired now, but whenever any of my expenses went up, taxes included, for taxes levied on one of my suppliers or any think under the expenses column, i would just turn around and increase the cost of whenever i was doing to my customer. it seems to me that whatever the tax increase is the businesses, small, medium, or large, unless the velocity has changed, they're just going to turn around and pass on the extra expenses to their customers, who would be the middle class. has this
the obama plan, they did not receive the full benefit of the bush tax cuts. that is just a fact. if your income is over $500,000, you get the full rate reductions. this is a very bizarre rate structure in the amt. congress was quite cognizant of that rate structure when they enacted the 2001 act and decided not to change because it had the impact of making that tax cut look less on affordable than it actually was. host: you talk, independent caller, good morning. -- utah. caller: i have a...
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go up, let these taxes happen if republicans press the idea of no tax increases for the wealthy. the latest we've learned, president obama and house speaker john boehner have spoken by phone. no word on what they discussed or whether there are any meetings planned, but just the fact that they're talking seems to be progress these days here on capitol hill. >> we'll take that. tracie potts for us in washington. tracie, thanks. >>> egypt state television is reporting at least five people were killed in overnight flashes between supporters and opponents of egyptian president mohammed morsi. the street battles were the most violent since egypt's latest crisis erupted two weeks ago where morsi assumed near absolute power. the opposition is vowing more protests later today. >>> this morning, two australian radio hosts are apologizing for a prank call that's getting worldwide attention. it was made to the hospital where kate is being treated for acute morning sick sentencesness. anna bell roberts is with us. >> reporter: good morning, lynn. that's right. the latest on kate's condition i
go up, let these taxes happen if republicans press the idea of no tax increases for the wealthy. the latest we've learned, president obama and house speaker john boehner have spoken by phone. no word on what they discussed or whether there are any meetings planned, but just the fact that they're talking seems to be progress these days here on capitol hill. >> we'll take that. tracie potts for us in washington. tracie, thanks. >>> egypt state television is reporting at least five...
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Dec 1, 2012
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they refuse to admit to obama has a mandate to tax these rich people. just the other day the corporate income is up to 1175 trillion dollars. these corporations are sitting on this money. they sat on it all through the election to make obama look bad. i know that sounds like a conspiracy theory, but you have to look at what people are doing, not what they say they are doing. host: all right. let's move on to linda from tallahassee, florida. caller: i have been very disappointed in the republicans myself, and i have been a republican for a long time. this pastime i could not even vote republican because i was so aggravated in what i felt was misinformation from them. i am in the top 5% of american wealth. we owed nobody -- we have no bills. we know plenty of baker's. we felt these people were taking advantage -- would you are in the banking business, it is a public trust issue. they do not to make these loans and they made them anyway. i said, you should not be making these loans, it is not a good loan. it made them. they are not going to jail for it. no
they refuse to admit to obama has a mandate to tax these rich people. just the other day the corporate income is up to 1175 trillion dollars. these corporations are sitting on this money. they sat on it all through the election to make obama look bad. i know that sounds like a conspiracy theory, but you have to look at what people are doing, not what they say they are doing. host: all right. let's move on to linda from tallahassee, florida. caller: i have been very disappointed in the...
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and offered by tim geithner who had tax problems in the past and today president obama is it at a toy factory campaigning for new taxes on the rich. and joining us is julia. >> hi. stuart: how are you. >> i'm great. stuart: i can't believe that you, as a regular american, want to do this to america, do you? >> i think it's because-- i don't think that this is exactly what what's going to happen. stuart: you don't think that the president will actually do this. >> no, no, i think the president has learned to negotiate. what the president would do, he would start with sort of half a loaf and negotiate and give the republicans about 75% of what they wanted. i think he's finally understood if you want to actually get to at least halfway, you have to start at extremes and meet halfway. republicans have done this all along. stuart: you agree with me, if this plan, anything like it from the president, were imposed on the economy at this time it would lead to recession. >> i think that the president is fully aware as are democrats and anybody realistic. stuart: you make that judgment. >> i am
and offered by tim geithner who had tax problems in the past and today president obama is it at a toy factory campaigning for new taxes on the rich. and joining us is julia. >> hi. stuart: how are you. >> i'm great. stuart: i can't believe that you, as a regular american, want to do this to america, do you? >> i think it's because-- i don't think that this is exactly what what's going to happen. stuart: you don't think that the president will actually do this. >> no, no,...
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Dec 5, 2012
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taxes on the wealthy. >> let's allow higher rates to go up the top 2%, and that includes all of you, yes? >> reporter: saying a fiscal cliff deal must include new revenues. the president pushed his plan to raise taxes on household earning over $250,000 a year. >> and i am here to tell you that nobody wants to get this done more than me. >> reporter: john boehner has a hard sell of his own with conservatives upset over his offer of $800 billion in new taxes. >> the plans the white house has talked about us this far, they could not pass either house. >> reporter: a "washington post" poll finds 53% would blame republicans if the country went over the fiscal cliff while only 27% would blame the president. >> we need new thinking and renewed efforts from all americans. >> reporter: republicans and democrats are voicing support for extending middle class tax cuts until a larger deal is found. >> which i hope they will. that that will be a victory for the american people. >> reporter: republicans, like virginia's eric cantor, said the gop has offered plans that will avoid tax hikes. >> and
taxes on the wealthy. >> let's allow higher rates to go up the top 2%, and that includes all of you, yes? >> reporter: saying a fiscal cliff deal must include new revenues. the president pushed his plan to raise taxes on household earning over $250,000 a year. >> and i am here to tell you that nobody wants to get this done more than me. >> reporter: john boehner has a hard sell of his own with conservatives upset over his offer of $800 billion in new taxes. >> the...
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Dec 7, 2012
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are you saying then for pr purposes, that they should give in to obama on the tax rate? >> no exactly -- well, yeah, i guess i am. >> you're saying capitulate to obama -- we don't have a revenue problem, ann. >> we lost the election, sean. >> well, the fact is, sean, we do have a revenue problem. 15% of gdp going to revenue. republicans on the right should at least pay for what they spend on. at least pay for the guns and ammo. the louisiana governor bobby jindal wants to make -- he's not blind to reality. he writes in today's politico, any reading of the headlines over the past week indicates that republicans are fighting to protect the rich and cut benefits for seniors. it may be possible to have worse political positioning than that, but i'm not so sure how. your thoughts, chris. do you conform to the thinking here of our smartest possible colleague here, chuck, that this is something that the president realizes is a true cliff, you don't want to go over it, and he will recognize a good deal if he sees it before christmas and take it? >> sure. yes, i do agree with chu
are you saying then for pr purposes, that they should give in to obama on the tax rate? >> no exactly -- well, yeah, i guess i am. >> you're saying capitulate to obama -- we don't have a revenue problem, ann. >> we lost the election, sean. >> well, the fact is, sean, we do have a revenue problem. 15% of gdp going to revenue. republicans on the right should at least pay for what they spend on. at least pay for the guns and ammo. the louisiana governor bobby jindal wants...
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people want to see actual tax reform. get the job done and the kick the can down the road is what we have done for the last four years. will president obama be a different president now he's reelected and will he be concerned about his legacy and take hold and lead discussions on the bigger issues. it upon didn't seem like it is happening in this interview. >> one of the things that i have suggested is that we are not going to be able to come up with a tax reform package that gets it all done in the next two weeks. we'll not be able to come up with a comprehensive enment program in two weeks you look at what ronald reagan did working with bill bradley and others. it was a year and half process. what i suggested put a down payment on taxes, let's let tax rates on the upper income folks go up. >> but do they have to go up to 39 percent. >> let me describe the process. let those go up and then set up a process with the time certain in the end of 2013 or fall of 2013 where we work on tax reform and look at deductions thatrepu
people want to see actual tax reform. get the job done and the kick the can down the road is what we have done for the last four years. will president obama be a different president now he's reelected and will he be concerned about his legacy and take hold and lead discussions on the bigger issues. it upon didn't seem like it is happening in this interview. >> one of the things that i have suggested is that we are not going to be able to come up with a tax reform package that gets it all...
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president obama and house speaker john boehner did speak on the telephone. right now, though, there's no evidence any future negotiations are scheduled. a new poll by the associated press shows 48% of those asked support letting tax cuts expire january 1 for those earning more than $250,000 a year. but extending them for everyone else. >> just 32% think the cuts should be extended across the boards. >> at 6:37 rchtion it's time for -- at 6:37, it's time for another your money report. >> jessica doyle is talking about the real possibility we actually will indeed go over the cliff. >> they say good things come to those who wait except maybe in the case of the fiscal cliff. timothy geithner said the administration will absolutely take the leap. but some say both sides could wait till january to get down to business without any big economic consequences. the expiration of the bush tax cuts forcing tax rates higher on 90% of americans won't be felt right away. some economists actually call this the fiscal float instead of the cliff because the impact would be fel
president obama and house speaker john boehner did speak on the telephone. right now, though, there's no evidence any future negotiations are scheduled. a new poll by the associated press shows 48% of those asked support letting tax cuts expire january 1 for those earning more than $250,000 a year. but extending them for everyone else. >> just 32% think the cuts should be extended across the boards. >> at 6:37 rchtion it's time for -- at 6:37, it's time for another your money...
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>> reporter: doreen, president obama said he's highlighting the impact of tax heights on the middle class. there's growing pressure to stop the campaigning and sit down face to face. avoiding the bickering on capitol hill today, president obama headed to northern virginia. he sat down with tiffany santana and her family to put a face on the fiscal cliff. >> for them to be burdened unnecessarily because democrats and republicans aren't coming together to solve this problem, gives you a sense of the costs involved in very personal terms. >> reporter: tef any had used twitter to tell the president her family can't afford a tax increase. and the white house released this video. >> $2,000 for me would be paying a month's rent. >> reporter: back in washington, more gridlock. >> it's up to the republicans to decide how long it's going to take. >> the president actually isn't interested in a balanced agreement. >> reporter: with both sides stuck on tax hikes for the top 2%, economists wonder if lawmakers will reach a deal this year. >> i'm skeptical, but i do think it can be done next year. >> re
>> reporter: doreen, president obama said he's highlighting the impact of tax heights on the middle class. there's growing pressure to stop the campaigning and sit down face to face. avoiding the bickering on capitol hill today, president obama headed to northern virginia. he sat down with tiffany santana and her family to put a face on the fiscal cliff. >> for them to be burdened unnecessarily because democrats and republicans aren't coming together to solve this problem, gives you...
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the president's plan raises taxes on the top 2% to raise 1.6 trillion in revenue, while the gop wants to close tax loopholes to raise half as much. >> we can probably solve this in about a week. it's not that tough. but we need that conceptual breakthrough that says we need to do a balanced plan. >> i'll be available at any moment to sit down with the president to get serious about solving this problem. >> the white house says they are also concerned that republicans may use the debt ceiling, which will need to be raised early next year to get their way on tax and spending cuts. the pentagon is already planning major cuts in case there is no deal. the preliminary plan is to cut 500 billion dollars in jobs and programs. the pentagon's spokesman says those cuts could force the defense department to abandon its new military strategy. it's also likely to affect spending on weapons and technology programs as well as how the military provides for troops and their families. >>> two australian radio hosts are apologizing for a prank call that revealed confidential information about kate middl
the president's plan raises taxes on the top 2% to raise 1.6 trillion in revenue, while the gop wants to close tax loopholes to raise half as much. >> we can probably solve this in about a week. it's not that tough. but we need that conceptual breakthrough that says we need to do a balanced plan. >> i'll be available at any moment to sit down with the president to get serious about solving this problem. >> the white house says they are also concerned that republicans may use...